HDB Financial Services may seek RBI extension on listing deadline

HDFC Bank's NBFC arm may ask the RBI for more time to meet its September 2025 listing deadline as IPO approval faces delays over compliance issues and regulatory hurdles

HDB Financial Services, the non-banking financial arm of HDFC Bank, is likely to request an extension from the Reserve Bank of India (RBI) for its September 2025 deadline to go public, according to people familiar with the matter.  

 

As an upper-layer NBFC, HDB Financial is required to list on stock exchanges by September according to RBI guidelines. The company filed its draft red herring prospectus (DRHP) in November 2024 for a ₹12,500-crore initial public offering (IPO), which remains pending with the Securities and Exchange Board of India (Sebi).  

 

According to sources, the delay stems from unresolved compliance issues, including potential